Retail Management Set 10
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This set of Retail Management Multiple Choice Questions & Answers (MCQs) focuses on Retail Management Set 10
Q1 | The correct statement about chain stores is ----.
- they offer economic of scale in buying.
- they can hire good managers.
- they integrate wholesaling and retailing function.
- they centralize function.
Q2 | Which of the following objectives is concerned with strategic marketing planning?
- Day to day performance and results.
- Over-all long term organizational growth.
- Identifying the strengths and weaknesses of marketing department
- None of the above.
Q3 | Which sources of advantage will be helpful for a firm to achieve positionaladvantage over its competitors?
- Superior skills.
- Superior resources.
- Superior controls.
- All of the above a, b and c.
Q4 | What are the elements that a mission statement of an organization should include?
- Sets guidelines for business operations
- Identifies the reasons for existence of a company and its responsibilities to the stakeholders
- Identifies the firms customers and their needs and marches them with products and services.
- All of the above 1, 2 and c.
Q5 | The term which is used to identify the major areas of business of a diversifiedorganization is.
- Business area.
- Business segment, group or diversion
- Business scope.
- Diversified business.
Q6 | Business composition is the term used while framing the following strategies. Whatare they?
- Corporate strategy.
- Marketing strategy.
- Business strategy.
- Both 1 and b.
Q7 | Which of the following is not the characteristics of a strategic business unit?
- It serves a homogenous set of markets with a limited number of related technologies
- It serves a unique set of products.
- It owns responsibility for its own profitability.
- None of the above.
Q8 | According to GE screening grid model, which strategy should a company follow when it has high industry attractiveness and low business competitive position.
- Invest/growth
- Selective investment /maintain position.
- Harvest/divest
- None of the above.
Q9 | Which of the following will act as a corner stone in maintaining the competitiveness of company
- Market focus.
- Defining capabilities.
- Relationships and organizational change.
- None of the above.
Q10 | Which analysis compares the strengths and weaknesses of a firm against theopportunities and threats in the external environment.
- Environmental analysis.
- Business analysis.
- SWOT analysis.
- None of the above.
Q11 | Which of the following is not included in the list of macro environmental variables.
- Prevailing economic conditions and political manifestors.
- Changes in legislation and emerging new technologies.
- Financial conditions and culture.
- None of the above.
Q12 | What is the term used if management wants to audit the key management functionslike sales force, advertising or pricing?
- Vertical audit
- Horizontal audit.
- External audit.
- None of the above.
Q13 | The best way for a retailer to differentiate itself in the eyes of the consumer formthe competitions is to.
- increase advertising of sale items.
- offer the lowest prices in town.
- always be well stocked with the basic items that customers would expect to find in your store.
- not sell any of the brand names the competition is selling.
Q14 | The boomerang effect is a relatively new phenomenon that describes
- the recent trend for firms to seek bankrupts protection.
- the way styles from years ago come back as today's most popular styles.
- the recent trend of children returning to live with their parents after having already moved out.
- the recent trend of having most companies report losses for the current quarter .
Q15 | Discretionary income is.
- all personal income after taxes and retirement savings.
- all personal income after savings
- all personal income after taxes.
- personal income after taxes minus the money needed for necessities.
Q16 | The final stage of the consumer shopping/purchase model around which all otherstages revolves is the.
- buy decision stage.
- active information gathering stage.
- purchase stage.
- post-purchase evaluation stage.
Q17 | What type of competitive structure are most retail firms involved in?
- horizontal competition.
- monopolistic competition.
- vertical competition.
- pure competition.
Q18 | Which of the following marketing functions is one the retailer could not perform?
- selling.
- sorting.
- location analysis.
- buying.
Q19 | Facilitating institutions may best be described as specialists that.
- take title but not possession of the merchandise.
- take title to the merchandise in order to facilitate the transaction
- manage the channel so as to increase over-all efficiency marketing functions
- perform certain marketing functions, in which they have an expertise, for other channel members.
Q20 | Which one of the following factors is not found on a six month merchandisebudget?
- planned gross margin.
- current liabilities.
- planned sales percentage
- planned purchases at retail.
Q21 | The --- provides the retailer with a picture of the organization's profit and losssituation
- expense report.
- index of inventory valuation.
- statement of cash flow.
- income statement.
Q22 | What word best describes the relationship between a retailer's pricing decisions and the merchandise, location, promotion, credit, services, image and legal decisions that retailers must make?
- independent.
- separate.
- interactive.
- competitive.
Q23 | If a retailer is offering the same products and quantities to different customers at different prices, the retailer has what kind of pricing policy?
- two-price
- customary.
- flexible.
- leader.
Q24 | Which of the following areas should not be taken into consideration whenformulating a retailer's promotional strategy?
- the retailers credit customers.
- the price level of the merchandise.
- merchandise inventory levels.
- the retailer's net worth.
Q25 | The two objectives of institutional advertising include:.
- creating a positive store image and public service promotion
- publicity and sales promotions.
- advertising a sale and generating store
- none